Confronting the Supply Chain Crisis

Source: Quillette
by Joel Kotkin

“For a generation, the Long Beach and Los Angeles harbors in California handled more than 40 percent of all container cargo headed into the US and epitomized the power of a globalizing economy. Today, the ships — mostly from Asia — still dock, but they must wait in a seemingly endless conga line of as many as 60 vessels, sometimes for as long as three weeks. These are the worst delays in modern history …. A pandemic-driven shortage of parts and labor has combined with a congested transport system to create an inflationary spike …. this high inflation is wiping out wage gains in the US, the UK, and Germany. The chaos on the ground may not disturb the lifestyles of the tech and financial elites, but it is hurting the middle and working classes, the groups most threatened by surging inflation.” (10/13/21)